MikeMurphy

Editor

Japan’s Nikkei slumped more than 1% Wednesday, as Asian stock markets pulled back amid new uncertainty about trade tensions between the U.S. and China and the possibility that the summit between President Donald Trump and North Korean leader Kim Jong Un may be delayed.

The Nikkei
NIK, +0.65%
fell to its lowest point since May 11 in midmorning trading as the yen rose. The yen is seen as a safe haven for investors during times of stock tumult. The dollar
USDJPY, -0.11%
slid to ¥109.56 at one point after trading above ¥111 in New York late Tuesday.

Energy stocks dragged down Australia’s S&P/ASX 200
XJO, +0.86%
, with the sector down more than 2.5%, on pace for its worst day since 2016. Santos Ltd.
STO, +1.05%
plummeted 8%, while Oil Search Limited
OSH, +0.14%
and Woodside Petroleum Ltd.
WPL, +0.66%
each fell more than 1%.

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